SAP CEO Bill McDermott to step down

SAP’s chief executive Bill McDermott is stepping down after a decade in the role, with the software company to be led by a pair of co-CEOs.

The enterprise resource planning (ERP) maker said in a statement it had activated its long-term succession plan, appointing “SAP executive board members Jennifer Morgan and Christian Klein … co-chief executive officers, effective immediately,”

McDermott will remain “in an advisory capacity until the end of the year to ensure a smooth transition.”

SAP co-founder Hasso Plattner led the tributes to McDermott.

“SAP would not be what it is today without Bill McDermott,” Plattner said.

“Bill made invaluable contributions to this company and he was a main driver of SAP’s transition to the cloud, which will fuel our growth for many years to come.”

McDermott joined SAP in 2002.

“Every CEO dreams of being able to transition a company to its next generation from a position of significant strength,” McDermott said. 

“When you look at where we were and where we are, I simply could not be prouder of what this company has achieved over the past decade.

“Now is the moment for everyone to begin an exciting new chapter, and I am confident that Jennifer and Christian will do an outstanding job.”